The Asheville citizen. [volume] (Asheville, N.C.) 1885-1889, 1887-04-15

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!! sired. With the Inauguration and COM
pletion ofseveral important enterprises,
the prices of real estate have kept steady
: pace.
, "It is fortunate, think, for the city,
, that there has been very little of what is
understood as 'boom," and | think
that investors may now count quite as
safely as in the past on steady in crease
in values.
"You see, the irregular topography of
the place creates conditions very differ
ent from those in fiat places. You can
stand on land worth 81 600 per acre and
throw a stone upon lard dear at 81 900
? Consequently the supply of first-class
) building sites is limited, therefore invest
ment in them is correspondingly safs"
Give me some instances of increase in
value here within two years"
81 hardly know where to begin. | sold
eight lots October 10th, 1885, $500 apiece,
an average one of which has just been
sold for 81 900. Not one of the eightcould
now be bought, think, for less. More
has been offered for two of them. In
d June. 1885. / urged Cleveland capitalist
to buy four acres at $500, hnf he would
tonly offer $1,000. Seventeen months
thereafter he bought portion of it for
800 cash, and offered $1,000 cash for
mainder sold for 81, 500 cash, making the
cash value, December 1st, 1886, at least
$4,000. He is now building fine brick
house on the lot he bought. A business
lot 120 feet front sold January, 1886, for
SIS. 1926, 48 feet sold last fall for So, 600,
and for the remainder $500 per foot was
offered recently. l could multiply exam
Piles. The above are among the most
conspicuous. There are manv others that
will approach them. but of course they
do not hal p, n every day."
What do you think of Ashevil' e's fu-
ture."
II think the town has just fairly begun
to grow, and | base my belief on the fact
that the influences which have been
counted upon to make the town have
just fairly begun to work. With, perhaps,
| the very finest system of water works in
the South, electric lights, telephone ex-
changes, new sidewalks, new and better
hotel facilities, newly completed railroad
connections, we have here added a Sc
ries of most essential elements of prog
ress and prosperity. We look not only to
tt e great South, where genial sons and
daughters ffyto our cool mountain breeZes
for the summer, but to the north, and |
| the east, and the west, where refugees |
from the blasts of winter find here a eli |
extensive travel the best all the year
round climate in the world Therefore,
whatever we do or acquire to add to the
comfort and pleasure OF life here, tends
to Fix the determination of these people
to make their homes here
"Ten years ago when first set foot in
the queen city, old residents and curb
stone loafers assured me confdentially
that property had got as high as it could
go, but since that time have witnessed
steady and increasing rise in values. |
conld have bought property then that
has advanced at least 100 per cent per
annum in al le."
THE TOBACCO TRADE.
While Asheville cannot properly be
classed among the older tobacco markets
of North Carolina, she is, nevertheless,
taking rapid rank in handling and manu-
featuring the weed, and this year, as will
be seen from estimates given elsewhere,
will reach about {, 900, 900 pounds. had
talk with Mr.. Fred A. Hull, Of the Ashe-
vile tobacco works, and present from him
some interesting data concerning the
growth of the tobacco trade here. l asked:
''How long has Asheville been handling
tobacco ?"
"The Ashevile Tobacco Association
was formed May lst, 1882, but considera-
BILE tobacco had been sold here previous to
that time"
"What quality of leaf is mostly market
ed here ~
"The quality of leaf varies here, as in
other markets, but we have more fine goods
than any other place in the United States
We have the finest bright wrappers and
smokers grown in the world''
"What has been the growth of the bust
ness here within two or three years ?"
"The growth of the business has been
very rapid in the past three years, and has
nearly doubled itself in that time.''
"What amount of capital is invested in
factories, prize rooms and warehouses? ?''
This question is hard to answer, as
property is increasing in value so fast that
it would be difficult to make an estimate
but would say that $I5o,ooo would be a
very low estimate. The amount of money
invested by individual buyers amounts to
millions and if sales are good itrups higher
than can count but if the market drops
they all claim that they had very little
money invested"
"What is the manufactured product
worth yearly?'
"About 100000"
''What do you think of the tobacco out
look here ?"
"fhe present outlook is very bright one
and we anticipate large increse in the
business in the coming season.,
"What do you think of the future of
Asheville :"
"This is question asked me nearly ev-
cry day and will answer you as / do
nearly every one else that l think Ashe-
vile will be on a steady boom for some
years to come. And from its geographical
position it must become the most noted re-
| sort between the Atlantic ocean and the
Mississippi river"
THE NEW WATER WORKS.
Mr. E. d. Bolton, of Boston, the gen.
tleman in charge of the new system of
water works now building in Asheyille,
was asked:
"What system of water works are you |
putting in here?"
Tie water is taken from the Swanna-
noa river about FIVE miles outside of the |
town at 'Patton's mill" A heavy stone |
dam has been built there, and the power
used to work duplex pump driven by a |
turbine wheel. The water is forced four
miles to an iron stand. pipe on Beaumont
four hundred aud thirty feet above the
river at the mill. The pump has a ca
paclty of 100000 gallons in ten hours.
The stand-pipe holds 100000 gallons
and is two hundred and thirty-five feet
above the public square. The work will
be in full operation before May 1. Its
cost win be between $4,000 to $4,000.
THE MAYORS VIEWS
Judge E. J. Aston, the honorable may
or of AsheYille, satin his insurance Office
CONCLUDED ON FOURTH PAGE